Things You Should Do When You Get A New Credit Card

Getting a credit card is a big decision that one can make in their life. Adding a credit card to your wallet is not only good for your financial profile but also helps you derive a lot more benefits from it. With the range of credit cards available in the market, it can become so overwhelming to choose a credit card. To begin with your credit journey you need to first analyse your spending habits and needs, after then choosing the credit cards that compliment them the most.

A credit card comparison is the best way to get the right credit card so that you can make the most out of it. Once you get a credit card the immediate question that arises is what to do with your credit card. In this article, we have covered some of the things that you should do when you get a new credit card. Keep reading to kick start your research.

Things you should do when you get a new credit card:

1. Register for Netbanking services: This is the next step that you need to do, as soon as you get the credit card register for the netbanking services. Once you register for the netbanking, it gets easier for you to avail of the various services from anywhere and anytime.
2. Activate your credit card: After registering for the netbanking services, the next step is to activate your credit card so that you can start using it. Using netbanking services you can generate your credit card pin, after generating it you will be good to go on to the next step which starts with making transactions.
3. Earn reward points: Once you receive your credit card the most important step comes is to know your credit card’s reward program. Being aware of the reward program helps you earn rewards easily. You will use your credit card for those transactions only that allows you to earn reward points and help you maximize the benefits.
4. Register for Auto-debit services: It is really important that you keep your credit card dues clear and on the other hand it is difficult to remember the due dates. Not remembering the due dates can easily lead to default in credit card bill payments. To avoid this mistake, you can register for the auto-debit services.
5. Set a threshold limit: There are times when you go over and beyond the credit limit which can have a negative impact on your credit score. Maintaining a low credit utilization ratio is the key to maximizing the benefits of your credit card. Setting a threshold limit on your credit card allows you to not exceed the 30% - 40% of the credit limit on your credit card.
6. Keep a track of your credit report: It is advisable to keep a track of your credit report once in a while. This will keep you aware of the errors and omissions on your credit card statement and credit score as well. If you find any errors you can immediately report them to the credit card issuer so that you don’t have to bear the loss.

Bottom Line:

 To summarise, using the above-mentioned tips after getting your credit card can increase the benefits of your credit card to manifolds.  Don’t forget to do a credit card comparison before applying for a credit card as it helps you to avail the right credit card. Having the right credit card makes all the difference as it can either build or harm your financial profile.